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ValueInvestor747 (84.44)

Apple: From Cool Kid to Annoying Kid in Just One Year



September 11, 2013 – Comments (0) | RELATED TICKERS: AAPL

Ugh, Apple, ugh. I’ve been an investor for three years. I’ve gone to bat for you time and time again over the past year. I’ve been an optimist constantly dismissing the naysayers. I’ve written blogs defending you. I’ve doubled down on my positions. I’ve largely ignored your blunders. I’ve discounted the recent success of your competitors. I’m finally coming to my senses: while I will keep you around, you are no longer cool; you are annoying. You are underwhelming. You are a constant disappointment.

You were the cool kid when Steve Jobs was around. It was cool to keep your mind blowing products completely under wraps only to blow us away time and time again. It was cool to low ball your earnings guidance only to blow us away time and time again. Then Samsung showed up, along with Amazon, Google, HTC, and Microsoft (well, not really). They took your ideas and ran with them. They became cool. You became boring. It was cool to keep quiet about upcoming products when the products themselves were new. It is not cool to keep quiet about upcoming products when your competitors have already released their comparable, possibly superior, versions.

I am sick and tired of Tim Cook. As I watch AAPL take a 6% dive today, I can’t help but blame yet another lackluster release event. I saw nothing that I did not already know. The 5S is neat, but it’s not mind blowing. The 5C is a good idea, but it’s not cheap enough. No mention of the iPad. No mention of the Mini. No mention of the iWatch. No mention of China Mobile. And of course, no mention of the TV. How did you expect investors to react, Apple? Two years ago I’d say ‘calm down everyone, they are working on something big.’ No more. This continued silence does not work when you are getting beat. I wonder what we’d be seeing today if Tim Cook made a few simple statements such as ‘we are very excited about the upcoming release of our watch’ or ‘we are expecting to be in the television market within a year’ or ‘we are very excited about our looming agreement with China Mobile.’ I think investors would welcome the statements. Tim Cook and Apple are beating themselves. They have no one to blame but themselves. People are sick of hearing about them and I’m sick of talking about them. It’s annoying.

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